Can I Give my Other Siblings Cash for the House we all Inherited from our Parents?

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“My parent left a house to his 4 children – one wants to buy- can he give us the cash or have to go through the “process of buying a house”? We are in S.C.”

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There are some distinct advantages to going through the formal process of transferring real estate, so I would recommend going through those formalities. It’s not quite the same as the process of buying a house, since it’s between co-owners, but you’re saving yourself some possible future headaches.

If the house is still in probate, or otherwise hasn’t been formally transferred to the children, you may be able to avoid some of this trouble by involving the executor, and having the property transferred to the one sibling directly, with money paid by him into the estate and distributed to the other siblings.

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Author: House Attorney

A house attorney has answered this question.